Stevens Capital Management LP Sells 3,455 Shares of Constellation Brands, Inc. (NYSE:STZ)

Stevens Capital Management LP reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 59.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,324 shares of the company’s stock after selling 3,455 shares during the quarter. Stevens Capital Management LP’s holdings in Constellation Brands were worth $599,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STZ. New Millennium Group LLC acquired a new position in Constellation Brands in the 2nd quarter worth approximately $25,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the 2nd quarter valued at about $32,000. Opal Wealth Advisors LLC purchased a new stake in Constellation Brands during the second quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands during the second quarter worth approximately $36,000. Finally, Wellington Shields & Co. LLC lifted its stake in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after buying an additional 50 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STZ has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. UBS Group reduced their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $239.50 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The stock has a market cap of $43.48 billion, a price-to-earnings ratio of 77.51, a P/E/G ratio of 1.67 and a beta of 0.90. The company’s fifty day moving average is $240.49 and its 200 day moving average is $246.35.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Activity

In other news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last three months. Company insiders own 12.19% of the company’s stock.

Constellation Brands Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.